KIMCHI Memecoin Crashes 95% Following Deleted Promotion

A Solana-based memecoin named KIMCHI plunged over 95% after promotional posts promoting the token disappeared from social media, triggering allegations of suspicious trading activity. According to CryptoNews, the token briefly reached a market capitalization of approximately $14 million before its price collapsed.

Promotional Post Deletions Trigger Crash

The market drop occurred shortly after an AI-generated promotional image featuring a QR code appeared on crypto trader Kimchi's X account, directing users to a newly created token on Pump.fun. Pump.fun co-founder Alon subsequently reposted the announcement, drawing additional attention to the asset.

Within minutes, KIMCHI's market capitalization climbed past $10 million to a peak near $14 million. However, both the original promotional post and Alon's repost were later deleted, coinciding with a sudden price drop exceeding 95%, with some market observations placing the fall near 99%. Traders questioned the sequence, alleging that the QR code's destination changed after initial liquidity entered the token.

Analytics Firms Track Profitable Wallets

According to blockchain analytics firm Lookonchain, early promotional distribution included 500 million KIMCHI tokens sent to Kimchi's account. Lookonchain identified several Solana addresses that accumulated KIMCHI tokens at relatively low prices before selling during the rally, generating more than $385,000 in combined profits.

Separately, analytics platform Bitquery documented an activity sequence involving another KIMCHI token launch on October 20, where three linked wallets generated approximately $104,000 in gains. Bitquery explicitly stated it could not connect those wallets directly to the token deployer.

Meanwhile, Pump.fun's daily protocol activity declined over the same period. Lookonchain reported that daily revenue fell 16% from $1.61 million to $1.35 million, while active addresses dropped 11% from 178,539 to 159,492.

Key facts

• KIMCHI memecoin crashed over 95% after promotional posts were removed from X.
• The token briefly touched a $14 million market capitalization before the collapse.
• Lookonchain identified wallets that secured over $385,000 in profits during the price spike.
• Pump.fun daily revenue dropped 16% to $1.35 million alongside an 11% decline in active addresses.